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12-Jun-14Created by Mr.Lafferty Maths Dept www.mathsrevision.com Level 2 Foreign Currency Up until 1 st January 2002, all the countries in Europe had their own type of money (currency). The euro was introduced and the other currencies were no longer accepted. Britain still uses the pound (£) and when you go to Europe on holiday you have to change your pounds to euros. A euro is divided into 100 parts and each part is called a cent Converting to another currency

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12-Jun-14Created by Mr.Lafferty Maths Dept www.mathsrevision.com Level 2 Foreign Currency Exchange rate : This is the number of euros you get for a £1 Euro Dollar $ 1.44 1.51 Yen190 Exchange rate £1= Example :How many euros will I get for £100. £ 11.44 100 100 x 1.44 =144 Simply multiply by exchange rate Converting to another currency

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12-Jun-14Created by Mr.Lafferty Maths Dept www.mathsrevision.com Learning Intention Success Criteria 2.Convert another currency back into £s by dividing by the exchange rate. 1.We are learning how to convert another currency back to £s. 1.Understand the opposite of multiplication is divide. Level 2 Foreign Currency Converting back to £s

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12-Jun-14Created by Mr.Lafferty Maths Dept www.mathsrevision.com Level 2 Foreign Currency The opposite multiplication is ? Divide So if we want to convert euros to £s we need to divide by the exchange rate. euros to £s :Simply divide by exchange rate.

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12-Jun-14Created by Mr.Lafferty Maths Dept www.mathsrevision.com Level 2 Foreign Currency Euro Dollar $ 1.44 1.50 Yen190 Exchange rate £1 = Example : A business man returns from American with $450. He converts them back to £s. How much will he get back ? $ £ 1.501 450 450 ÷ 1.50 =£300 Converting back to £s